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November 16, 2019
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SACRAMENTO NEWS
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Westcore Completes Second Sacramento-Area Purchase in the Last 30 Days

7/25/11

Westcore Properties closed its second Sacramento-area acquisition in 30 days, as the San Diego-based firm spent $1.872 mil for 8388 Rovana Circle, a 72k sf distressed industrial asset. The property was purchased from Sterling Savings Bank.

Built in 1996, Rovana Circle sits on a 4.3-acre site and features steel frame, concrete-tilt up construction. The building features 17 dock high doors, nine grade level doors, and 24' to 26' clear height.

"We recognized the future viability and upside of this well-located asset, which we look forward to stabilizing in the coming months," said Neil Johnson, principal of acquisitions with Westcore Properties' Northern California office. "Rovana Circle is ideally located with convenient access to nearby Interstate 99 with a number of features valued by industrial and warehouse tenants."

Johnson added that current tenant Ampac Services, Inc., a Northern California-based provider of packaging, shipping and industrial supplies, occupies 66 percent of the property. The company utilizes the space for one of two of its warehouse locations, the second being in Union City, Calif. Westcore Properties expects the remaining vacancy to be leased very soon given recent activity.

Both Westcore Properties and Sterling Savings Bank represented themselves in the Rovana Circle transaction. Westcore also recently purchased a 36k sf industrial building at 1120 Tara Ct in Rocklin, just outside Sacramento, for $936k. Currently, the company owns and manages a 12 msf portfolio comprised of industrial, office and retail space with a combined total value in excess of $1.2 bil.





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